Saudi Arabia’s international leisure tourism is set to grow by 93% by 2030, outpacing growth across the Middle East and globally, said a report. The leisure's share of international visitor spending in the kingdom increased from 9% in 2019 to 28% last year and is now forecast to reach 31% by 2030.
flynas and Swissport have entered into a long-term strategic equity transaction and commercial partnership that represents a significant milestone for both companies and further strengthens Swissport's position as a market leader in airport ground services, air cargo handling and airport hospitality globally.
Saudi Arabia's construction activity accelerated in August, driven by a robust increase in residential building and stronger new orders. The seasonally adjusted index rose to 55.4 in August from 55.2 in July, according to the latest Alrajhi capital Saudi Construction Index compiled by S&P Global.
Magna AI, the global integrated-value-chain sovereign AI transformation leader powered by NVIDIA, has announced a strategic partnership with MBUZZ, a Saudi-headquartered ICT infrastructure company, that will see the duo deliver AI infrastructure and transformation services to enterprises across MEA region.
Companies listed on GCC exchanges reported aggregate net profits of $74.8 billion in Q2, up 31.3% over previous year. At the country level, the profit growth was led by Kuwait, Saudi Arabia, UAE and Oman, where firms posted double-digit y-o-y increases, according to Kamco Invest.
A Saudi-Chinese consortium comprising Armada and Zhangzhou United Waters has secured a SAR1.3 billion ($348 million) contract from National Water Company for the rehabilitation, operation and maintenance of nine sewage treatment plants (STPs) across Saudi Arabia.
Ericsson has announced that it has collaborated with Saudi telecom group Mobily on a skills development programme aimed at helping Saudi youth build digital, professional and leadership skills and better understand career opportunities in the ICT sector.
Saudi Arabia's National Water Company plans to tender later this year 51 sewage treatment plants with a total treatment capacity of 888,000 cu m per day. These projects will see private-sector partners undertake the rehabilitation, operation and maintenance services for a 15-year period.
Saudi-based East Pipes Integrated Company for Industry has announced that it sealed an agreement with global oil major Aramco for the manufacture and supply of steel pipes for use in its key projects in the region. The entire work will be completed within five months.
Saudi-listed Al Ashghal Al Moysra Company has announced that it had been awarded a contract by the Royal Commission for Jubail and Yanbu to provide warehouse operations and management services at the authority’s facilities in Yanbu. The contract, which includes value-added tax, is expected to be signed on November 10, the company said in a statement to the Saudi Exchange.
